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Your Money Under More Scrutiny

April 26th, 2005 Leave a comment Go to comments

Wired News: Your Money Under More Scrutiny

One step closer to a cash-less society. This makes me worry about a lot of the perfectly innocent transactions that are out there. For instance, my landlord lives in Ann Arbor but maintains a credit union account that I can deposit our rent into. His bank and mine both have branches on the same street so when our rent is due I can stop at my ATM, grab the cash, drive down the street and deposit it. It saves my landlord a trip to the bank, it saves the bank the processing time/costs involved with a check, it saves me the stamp and my balance is up to date in the bank’s system immediately.

Granted if the feds called up my landlord asking about large cash deposits to their account all he’d have to say is “I manage several properties in Lansing” and that’d probably be the end of it, but who wants calls at home like that?

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